Topic: "It's Better to Sell Bitcoin Now and Rebuy Lower" Twitted by Peter Schiff - page 2. (Read 335 times)

Oh well, what do you expect from a gold bug like Peter Schiff. For sure we know what is his intention for making this statement.

Any how, it's no secret that this is also a strategy for some of us, we sell and then rebuy lower. But the risk is huge as we don't know if the price will continue to go down and not. Maybe you can buy it higher than you sell. So still up to you, continue to hold and buy or make things complicated by selling today and hopefully the price will nosedive and then you rebuy, it's your choice.

Everyone is still waiting for his prediction of gold at $5000 to come true - unfortunately many will not wait for that day because life is too short for those who believe in fairy tales. The fact that someone constantly mentions in his statements something about which he has a very negative opinion only speaks in favor of Bitcoin being used to promote what he actually promotes all the time, and that is gold.

I am of the opinion that such people should not be given attention and emphasize their role where they are actually completely irrelevant. In other words, we should not care what Schiff, Buffett or Gates think about Bitcoin, nor did they invent it, nor does it depend on them.

That's pretty much Peter Schiff's branding and shtick. He wouldn't be as famous as today if it weren't for him talking crap about Bitcoin and the cryptocurrency space like every few days; and I'm pretty sure him and his businesses have heavily benefited off his publicity stunts.

We all know that Peter Schiff is a gold enthusiast, he talks better about gold but talks bad about bitcoin, he has been talking about bitcoin since many years ago when bitcoin has always surpass gold in price, but not in marketcap. He can try to say what he wants this time around the world too as he has been saying before, but he has failed to be able to analyze that bitcoin may not fall below $14000. Bitcoin volatility is decreasing, but this year will also let us know more about this, but if the volatility is decreasing, I am not expecting bitcoin to even fall below $15000. Yet, all-time-high will occur and holders will make profit again.

Peter was always against bitcoin and this would be very unusual for him to tell you to buy it at any date and price. Don't expect any honest advice from him and this is a perfect example when he comes at -70% from the top and tells you to sell hoping that if enough people listen to him the price will go even lower and he'll be able to start his rant how worthless bitcoin is and how you'd do better buying gold. Gold that he can sell you at a premium.


It did not test the upper line this cycle, that's why people were waiting for 100k and it didn't happen.
I stand by my prediction that this cycle wasn't overbought like 2013 and 2017 and it's not going to correct 85% like those cycles. Unfortunately there was a lot of FUD and manipulation this time from the side of stable coins that dragged us down below the strong support of 23k and it caused a widespread panic among people who bought their first coins in 2021.


Remember that the lower we go in price the more we dip into the long term holder territory and you can see in Peter's prediction that he acknowledges that. He knows that every cycle there's more holders who take coins out of exchanges and that is why the lows for bitcoin are always higher and will continue to go higher. He sees the low at 10k, but just in 2020 it was at 3k, so even a permabear like Peter thinks the number of holders is three times what it was 2 years ago.

I always wonder why people that publicly say they hat bitcoin, then continue to comment on it. To me it seems more that he in reality trades bitcoin and tries to manipulate the price, since there would be no reason at all to recommend people to sell and buy later again if he doesn't want to buy himself.

After Bitcoin plunged below $21,000, prominent crypto hater and investor in gold Peter Schiff shared a chart which, to him, shows that the flagship digital currency is likely to test $5,000.

In the meantime, chief of Galaxy Digital Mike Novogratz believes $20,000 may be the bottom for Bitcoin, although he added that it may certainly go lower.

"Hard to imagine BTC not testing the lower line"
CEO of Euro Pacific Capital and founder of SchiffGold, prominent wealth manager and economist Peter Schiff has taken another jab at Bitcoin, seeing it plummeting from the $30,000 level.

Earlier this year, he has several times shared his expectations of Bitcoin falling substantially below the $30,000 level. If it happens, he tweeted at the start of the year, then BTC is likely to go all the way down to $10,000.

More details:
https://u.today/its-better-to-sell-bitcoin-now-and-rebuy-lower-peter-schiff